Digital Health - Sweden

Sweden

The Digital Health market in Sweden is projected to reach a revenue of €551.10m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2028) of 7.26%, resulting in a projected market volume of €729.50m by 2028.
The average revenue per user (ARPU) is estimated to be €58.00.
In global comparison, in China is expected to generate the most revenue in the Digital Health market, with €49,220.00m in 2024.
Among the various market segments, Digital Fitness & Well-Being will be the largest market in Sweden, with a total revenue value of €237.30m in 2024.
Sweden is at the forefront of digital health innovation, with a strong focus on telemedicine and wearable technology.

Key regions: United States, China, Japan, Asia, Europe

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Analyst Opinion

Sweden's Digital Health market is experiencing significant growth and evolution, driven by various factors shaping the healthcare landscape in the country.

Customer preferences: Consumers in Sweden are increasingly turning to digital health solutions for convenience, accessibility, and personalized care. The tech-savvy population values the ability to monitor their fitness and well-being through digital fitness apps and wearable devices. Additionally, the demand for online doctor consultations is rising as patients seek more efficient and flexible healthcare services.

Trends in the market: One notable trend in the Swedish Digital Health market is the integration of digital treatment and care platforms into the traditional healthcare system. This trend is driven by the government's initiatives to promote e-health solutions and improve patient outcomes. Moreover, there is a growing focus on preventive healthcare, leading to the adoption of digital tools for early detection and monitoring of health conditions.

Local special circumstances: Sweden's strong digital infrastructure and high internet penetration rate contribute to the rapid adoption of digital health solutions in the country. The advanced healthcare system and progressive regulatory environment also play a crucial role in fostering innovation and investment in the Digital Health market. Furthermore, the cultural emphasis on work-life balance and overall well-being aligns with the growing interest in digital fitness and wellness services.

Underlying macroeconomic factors: The increasing healthcare costs and aging population in Sweden are driving the need for more efficient and cost-effective healthcare solutions, leading to the expansion of the Digital Health market. Moreover, the COVID-19 pandemic has accelerated the adoption of digital health technologies as a response to the challenges posed by the healthcare crisis. This shift towards digitalization is expected to continue as healthcare providers and patients alike recognize the benefits of remote monitoring, telemedicine, and virtual care services.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.